LONDON is bidding to become the party capital of Europe with the introduction of a new 24-hour Tube service at weekends.

Mayor Boris Johnson believes his plan to run trains through the night will be a major boost to the inner city economy, earning millions for the entertainment industry.

His plan for the Underground include more Wifi coverage at stations, better ticket machines, and staff based in ticket halls and on platforms rather than in ticket offices.

But union chiefs have threatened industrial action over the scheme which will result in 750 job losses across the network and savings of £50million-a-year.

The Mayor unveiled a Tube map at Piccadilly Circus showing the lines which will run all-night services on Fridays and Saturdays.

Trains will run through the night at weekends [PA]

He said: "We are getting staff to move from behind their plate glass to areas where they can help and communicate with customers. We are hopeful that our staff will see the massive benefits of what we are doing.

"For 150 years the Tube has been the beating heart of London, its tunnels and tracks providing the arteries that have transported millions of people and helped to drive the development and economic growth of our great city.

"Now it is time to take the Tube to the next level and so for the first time in London's history, we will provide a regular 24-hour night service at weekends. This will not just boost jobs and our vibrant night-time economy, it will further cement London's reputation as the best big city on the planet to in which to live, work, visit and invest."

The Rail Maritime and Transport union warned of industrial action, adding that staffing levels will be "decimated."

General secretary Bob Crow said: "The Mayor must believe he is some sort of magician if he thinks he can slash jobs and still run safe services when everyone knows that staffing has already been cut to the bone while passenger demand continues to rise.

"Throwing in the plan for night time operation at the weekends is just a smokescreen to try and camouflage the real issue which is a savage cuts to jobs, access and safety.

"We will work with sister unions and the public to fight these plans and that means using every campaigning, political and industrial tool at our disposal and our executive will be looking at a timetable and a strategy for that campaign, including a ballot for industrial action."

Manuel Cortes, leader of the TSSA rail union, branded Boris Johnson "hypocrite of the decade", saying the announcement would lead to the closure of all 268 Tube ticket offices by the end of next year.

He said: "It beggars belief that the Mayor who was elected in 2008 on a pledge to keep open every ticket office is now planning to close every single one, with all that means for safety and jobs."